[candiodari]

> Gold was, once upon a time, THE standard, this is true. But the problem with gold is that its supply bears no relation to the needs of the economy. The supply of gold depends on what can be mined.

Whereas fiat currencies the supply bears only a relation to the needs of the government's spending.

On occasion, of course, this is the same as "the needs of the economy". But that happens too with the gold supply.

Thing is, fiat currencies keep their value, on average, for something like 70 years (discounting inflation, I mean the average time it takes from money getting issued to when it is no longer accepted anywhere, like happened to quite a few currencies in WWII). Gold, even in modern times, has outperformed them on that (though, yes, it certainly does not have 7000 years of acceptance like some claim, but it easily gets into centuries)